secwatch.observer — SEC 8-K summary
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Issuer:     NABORS INDUSTRIES LTD (NBR)
CIK:        0001163739
Form:       8-K
Filed at:   2023-02-10T23:59:59+00:00
Accession:  0001104659-23-017832
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nabors prices $225M 1.75% exchangeable notes due 2029 to refinance 9% debt
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- $225M principal, 1.75% coupon, due June 15, 2029; initial purchasers have 30-day option for additional $25M.
- Initial exchange rate 4.7056 shares per $1,000 principal ($212.51/share), a 22.5% premium over $173.48 closing price.
- Proceeds to redeem all outstanding 9.00% senior priority guaranteed notes due Feb 2025; excess for general corporate purposes.
- Closing expected Feb 14, 2023; notes are unsecured and fully guaranteed by Nabors Industries Ltd.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923017832/0001104659-23-017832-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923017832/tm235194d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-017832

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